computer accounting with quickbooks 2011 chapter 9
DESCRIPTION
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011 CHAPTER 9. Chapter 9 Overview. Record Owner’s Investment Record Purchase Transactions Record Sales Transactions Make Adjusting Entries Print Reports Close the Accounting Period. COMPUTER ACCOUNTING WITH QUICKBOOKS 2011. RECORD OWNERS’ INVESTMENT. - PowerPoint PPT PresentationTRANSCRIPT
COMPUTER ACCOUNTING WITH
QUICKBOOKS 2011
CHAPTER 9
CHAPTER 9 OVERVIEW Record Owner’s Investment Record Purchase Transactions Record Sales Transactions Make Adjusting Entries Print Reports Close the Accounting Period
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
Use the Make Deposits window to record owner’s investment.
RECORD OWNERS’ INVESTMENT
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
RECORD PURCHASE TRANSACTIONS
Purchase transactions can be:1. Cash Purchases2. Credit Purchases
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
CASH PURCHASES Record cash purchases using the Write
Checks window.
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
CREDIT PURCHASES
For a service company, record credit purchases by:1.Entering the bill when received using the Enter Bills window. 2.Pay bill when due using the Pay Bills window.3.Print the check.
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
MEMORIZED TRANSACTIONS
QuickBooks memorized transaction feature memorizes recurring transactions1.Enter the bill2.Memorize the transaction (Edit menu, Memorize Bill)3.Use memorized transaction (Lists menu, Memorized Transaction List)
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
SALES TRANSACTIONS
Enter sales transactions with customers:1.Prepare an invoice to record customer charges using Invoice window2.Record customer payment using Receive Payments window3.Record deposit in bank using Make Deposits window
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
PRINT TRIAL BALANCE To verify the accounting system is in
balance at year-end, print a Trial Balance before making adjusting entries.
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
ADJUSTING ENTRIES Use the onscreen Journal to enter
adjusting entries that bring accounts up to date at the end of the accounting period.
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
PRINT ADJUSTED TRIAL BALANCE
To verify the accounting system is still in balance after making adjusting entries, print an Adjusted Trial Balance.
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
PRINT REPORTS
Financial reports for the year include: General Ledger Profit & Loss Balance Sheet Statement of Cash Flows
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
CLOSE THE ACCOUNTING PERIOD
QuickBooks automatically closes the accounting period by closing all temporary accounts.
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
TO LEARN MORE …
COMPUTER ACCOUNTING WITH QUICKBOOKS 2011
Turn to Chapter 9
Visit the Online Learning Centerwww.mhhe.com/kay2011
Visit the Student Blogwww.myquickbooks.me